Castle Trust Bank has been acquired by vehicles backed by Sixth Street, a global investment firm, and affiliates of Bayview Asset Management a global alternative investment management firm.

As equal partners, Sixth Street and Bayview claim to bring significant financial strength, deep expertise in credit markets and asset-based finance, and a long-term investment horizon well-suited to support financial institutions through periods of growth and transformation.

Castle Trust Bank will continue to be led by its management team, including Chief Executive Officer Martin Bischoff.

“This investment from Sixth Street and Bayview is a strong endorsement of our strategy, our people, and our future potential,” said Bischoff. “We have grown customer savings balances to more than £1.6bn, built a specialist property finance loan book of more than £1.1bn and a retail finance loan book exceeding £200m — establishing a strong platform for future growth.”

He added: “With the backing of our new shareholders, we are well placed to invest in our customer proposition, expand across retail savings, specialist property and retail finance, and pursue additional growth opportunities while maintaining a disciplined focus on risk and delivering sustainable outcomes for customers, colleagues, brokers, retailers, and partners.”

Castle Trust was launched in 2012, offering investment products and specialist mortgage finance.